Silver Elephant Appoints Peter Lightfoot as Technical Advisor for its Minago Nickel Project in the Thompson Nickel Belt


Vancouver, British Columbia, July 19, 2021 – Silver Elephant Mining Corp. (“Silver Elephant” or “the Company”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N) is pleased to announce the appointment of Dr. Peter C. Lightfoot as a technical advisor for its Minago nickel project in the Thompson nickel belt in Canada.

Dr. Peter C. Lightfoot, P.Geo. is an Independent Consultant to the global minerals industry and is the founder/owner of Lightfoot Geoscience Inc., a consulting company providing services to companies exploring for magmatic nickel ore deposits. During a 20-year career as a geologist with Inco and Vale he was responsible for nickel exploration at Voisey’s Bay, Sudbury and Carajas. Peter was also involved in project generation, evaluation and technical support in Canada, Greenland, Scandinavia, Finland, China, India, Australia, Brazil, Angola, South Africa and the United States.

In 2016, Peter published the first comprehensive textbook on the Ni-Cu-precious metal ore deposits of the Sudbury Igneous Complex. Also in 2016, he compiled and edited a special volume on gold deposits of China, published in Ore Geology Reviews. In 2017, Dr. Lightfoot was appointed as the Hutchinson Visiting Industry Professor at the University of Western Ontario, where he is now an Adjunct Professor. Peter received his B.A. in Earth Sciences from Oxford in 1980, his M.Sc. degree from the University of Toronto in 1982 and his Ph.D from the Open University (U.K.) in 1985. He completed post-doctoral studies at the University of Toronto and undertook extensive research on the geology and geochemistry of the Noril’sk ore deposits during his tenure as an Adjunct Professor.

Dr. Lightfoot will assist the Company with Minago exploration and nickel property evaluation for staking and acquisition in the Thompson nickel belt.

About the Minago Project

The Minago Project is located in the southern part of Manitoba’s Thompson Nickel Belt (“TNB”), which is the fifth largest sulphide nickel belt in the world based on contained nickel endowment, containing over 18 nickel deposits and over 5 billion lbs of nickel production since 1959. (Naldrett, A.J., 2004, Magmatic Sulfide Deposits; Geology, Geochemistry and Exploration: Springer-Verlag, Berlin, 725 p.).

On July 6, 2021, Silver Elephant announced Mineral Resource Estimate for Minago prepared by Mercator and AGP with an effective date of July 2, 2021 that includes a Measured and Indicated Mineral Resource of 722 million lbs of nickel, and an Inferred Mineral Resource of 319 million lbs of nickel at an average grade of 0.74% nickel (mineral resources are not mineral reserves and do not have demonstrated economic viability). The Minago Project has received over $40 million in investment since early 2000.

Manitoba Provincial Highway 6 and a high-voltage (230 kV) transmission line both transect the Minago project. Minago has been demonstrated to produce a 22.3% nickel concentrate based on representative feed of 0.54% nickel through extensive metallurgical testing by SGS. Vale currently produces nickel concentrates in Thompson at the heart of the TNB, 270 km northeast of the Minago project. Its nickel concentrates are shipped to its Sudbury smelter for processing to refined nickel.

Qualified Persons

The technical contents of this news release have been prepared under the supervision of Danniel Oosterman, VP Exploration. Mr. Oosterman is not independent of the Company in that he is employed by it. Mr. Oosterman is a qualified person (“QP”) as defined by the guidelines in NI 43-101.

About Silver Elephant

Silver Elephant Mining Corp. is a premier mining and exploration company in nickel, silver, and vanadium.

Further information on Silver Elephant can be found at www.silverelef.com.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

John Lee
Executive Chairman

For more information about Silver Elephant, please contact Investor Relations:
+1.604.569.3661 ext. 101

ir@silverelef.com www.silverelef.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Company’s future growth, results of operations, performance, and business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. The Company undertakes no obligation to publicly release any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Invest in Energy Metals to Profit from Coming Electrification Revolution


July 7, 2021 by John Lee, CFA, Twitter https://twitter.com/johnlee25893955

  • Electricity demand growth rate could double with adoption of electric vehicles
  • Renewables led the growth in power production to fuel the consumption
  • Metals such as silver, vanadium, and nickel are critical to make solar panels and batteries, mining companies also stand to benefit

Electric vehicle adoption boost power consumption growth

Electricity consumption is growing at an annualized rate of 3% a year (China has the highest rate at 10%) from 2000 to 2018.


Source: Global Energy Statistical Year Book 2020

Despite China’s economic progress, its electricity consumption per capita is still half that of the US. Meanwhile India, the world’s most populous nation, consumes 1/10 the electricity per capital compared to the US. This means the growth trend is going to accelerate especially as more people own smart phones, and drive electric cars.


Source: Wikipedia

Electric vehicle sales make up about 2% of the worldwide car sales. That percentage is expected to grow to over 20% in 10 years.


Source: Bloomberg New Energy Finance

But just what is the increase in one’s overall electricity consumption by owning and driving a Tesla?

A Tesla Model-3 owner with 10,000 miles of annual driving will consume an extra 15% electricity, based on the average US per capital electricity consumption of 12,154 kwh, and a Model 3 Tesla standard range of 50kwh per 263 miles.

Renewables: Fastest growing energy source to meet demand

In order to meet an annual global increase of 3% electricity consumption the world would need to build the equivalent of 100 modern nuclear plants. per year which has never happened given the excessive cost ($10 billion), and time (10 years) just to build a single plant. For that reason, the US and many other countries have chosen and implemented renewable energy with battery storage to supply the power needed by the world economy.



Source: Worldenergydata.org

Skeptics of renewable energy such as solar power, often point to perceived renewable shortcomings such as space, cost, and availability.

Space: With improved technology especially on yields, 1km2 of solar panels can now generate approximately 1GW of electricity. Theoretically a solar farm of 400km2 (approx. 1/500 the size of Utah) can power the entire US for 35 years.


Solar Farm at Gobi desert Source: BARCROFT MEDIA/GETTY IMAGES

Cost: The cost of solar panels which includes materials such as silicon, plastics, and metals is down 70% since 2010 due to greater efficiencies in manufacturing, and advances in technology to improved yields. For example, in 2015 it took 50 grams of silver to create a solar panel ;

now a solar panel takes only 20 grams of silver. Similarly, the average cost of utility-scale batteries has come down more than 70% in the last 10 years.


Source: Rameznaam.com

The US Energy Information Administration (EIA) noted that battery storage systems are increasingly paired with renewables to improve availability. The world’s largest solar-powered battery (409 MW, delivering 900 megawatt-hours of energy – enough to power Disney World for approximately seven hours – and will be the world’s largest integrated solar-powered battery system.) is under construction at Manatee Solar Energy Center in Florida and is scheduled to be operational by late 2021.

Lastly, solar critics point to the waste hazard left behind after solar panels exhaust their shelf-life, yet they ignore that solar panels are packing more energy density with fewer materials and requiring less space. Those panels can now last 35 years and recycling panels may be made easier one day through smart designs and new materials with human ingenuity, Comparatively, solar panel scraps are easier to handle than radioactive waste from nuclear plants.


Source: US Energy Information Administration

One factor often overlooked that improves the availability and utilization of renewable energy is modern ultra-high-voltage transmission lines which can transmit Gigawatts of power over thousands of miles with minor power loss across time zones, state or country borders, or even continents

According to Bloomberg, in December 2020, China completed a $3.45 billion, 970-mile-long, 800-kilovolt UHVDC line to carry solar- and wind-generated power from the high Tibetan plains to China’s population centers. That was followed by the construction of a 1,100kv cable that can transmit up to 12 GW of power from the deserts and mountains of Xinjiang province to the doorstep of Shanghai, almost 2,000 miles east.


Source: Bloomberg

How do you profit from this electrification revolution?

One can compete with Elon Musk in making electric cars and solar panels, or battle with Panasonic in making nickel-lithium batteries. I prefer to invest in silver, nickel, and vanadium, (i.e., energy metals) which are essential materials for world electrification.

Case for silver:

Solar panels account for approximately 10% of silver usage .


Source: SPGlobal

Case for vanadium:

To store the power from large solar farms, thousands of vanadium battery farms are created which can store hundreds of MWh of power that can be discharged over 8-hour long duration at night. Vanadium flow batteries are rugged, they can last 20 years without degradation and be built next to large solar or wind farms.


Source: Sumitomo Electric

Case for nickel:

Tesla is expected to become the first automaker to use LG’s new NCMA (nickel-cobalt-manganese-aluminum) battery cells this month, which have a 90% nickel composition (up from 60% nickel reducing cobalt by 70%). In addition to this, nickel-cathode lithium batteries are a mature, safe technology that has continuously been improved to hold more energy density (over 600 Wh/L, or 220 Wh/kg) than ever before over its competition; namely lead acid, Ni-Cd, and lithium-iron-phosphate technologies.

UBS forecasts increasing nickel demand from 2.6mtpa in 2020 to more than double to 5.8mtpa by 2030. This is while nickel supply has seen a decline of 4% in 2020 from the year prior.


Source: McKenzie Research

I own a lot of physical silver, and shares of Silver Elephant Mining Corp (TSX: ELEF, OTCQX : SILEF, which I am the chairman) for exposure to vanadium and nickel which can be bulky and hard to buy. Silver Elephant’s Minago nickel project in Canada has 722 million pounds of nickel in the measured and indicated category as reported by Mercator-AGP consultants (refer to July 2021 news release). In addition, Silver Elephant’s Gibellini vanadium project has 131 million pounds of vanadium pentoxide as reported in a May 2018 resource statement prepared by AMEC consultants (see company news release). Finally, as the name suggests the Company has its flagship Pulacayo silver project with 107 million indicated silver oz’s as reported by Mercator in October 2020 (per company news release). All three projects are at an advanced permitting stage and provide strong leverage to metal prices. Mining is asset depleting business, and I believe the metals should be kept safely in the ground today until prices are higher, at which time mines can be commissioned.

Summary

The hydrocarbon wars fought over last 100 years are at an end. We are entering into a new energy renaissance, and for the first time in the history of mankind we can harness unlimited energy from the sun.

Warren Buffet said once that if you had bought and held a 30-year bond in 1980 with a 15% coupon (with you use to buy more long dated bonds), you would have made more than 10 times your money 30 years later. The secret to wealth is to spot and invest in a secular trend and sit tight. I sense we are at the infancy stage of an electrification revolution that will last at least 10 years. Take advantage of this insight and consider a starting position in silver, vanadium, and nickel if you haven’t done so.

Silver Elephant Announces Permitting Update and Low Carbon Initiative For Minago Nickel Project at Thompson Nickel Belt in Manitoba


Vancouver, British Columbia, July 7, 2021 – Silver Elephant Mining Corp. (“Silver Elephant” or “the Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces the following update for its 100% owned Minago Nickel Project (“Minago  Project”) at Manitoba’s Thompson’s Nickel Belt in Canada.

Environment Act License

In August 2011, the Minago Project achieved a major milestone when the Environment Act License (“EAL”) was issued by the province of Manitoba. The prior operator of the project subsequently filed a Notice of Alteration (NOA) to the EAL, in December 2013, related to relocation of the tailings management area to address First Nation concerns. The NOA process was not completed by the prior operator and remains outstanding. Since acquiring the project in February 2021, Silver Elephant has re-engaged the Manitoba Government regarding the NOA status for the 10,000 tonne-per-day open-pit mining operation at Minago. The ARDD has confirmed that the NOA can still be completed and the Company is currently working with ARDD to finalize the NOA approval, leading to issuance of an updated Environment Act License, which is expected by the end of 2021.

A socioeconomic assessment was conducted and the prior operator signed a Memorandum of Understanding (MOU) with each of the Pimichikamak Cree Nation (Cross lake), Mosakahiken First Nation (Moose Lake), and Misipawistik Cree Nation (Grand Rapids). The Company is re-engaging the First Nations with traditional territories that include the project site, including the Norway House Cree Nation, to work toward inclusion and renewal of the MOUs in 2021.

The Agriculture and Resource Development Department (“ARDD”) has expressed support for the Minago Project, which would supply much needed Class 1 high-purity nickel to make nickel-lithium batteries used in electric vehicles.

Low Carbon Operation

Several initiatives are being considered or taken to minimize the carbon footprint of potential future mining operation at Minago. For mining, the Company will examine the use of a fully electric mine fleet and review the use of waste material to expose the serpentine component to air to absorb carbon dioxide through carbonation. For ore and waste processing, the crushing, milling and flotation processes would be powered by renewable hydroelectricity, which accounts for 97% of all electricity generation in Manitoba.

About the Minago Project

The Minago Project is located in the southern part of Manitoba’s Thompson Nickel Belt (TNB), which is the fifth largest sulphide nickel belt in the world based on contained nickel endowment, containing over 18 nickel deposits and over 5 billion lbs of nickel production since 1959. (Naldrett, A.J., 2004, Magmatic Sulfide Deposits; Geology, Geochemistry and Exploration: Springer-Verlag, Berlin, 725 p.).

On July 6, 2021, Silver Elephant announced Mineral Resource Estimate for Minago prepared by Mercator and AGP with an effective date of July 2, 2021 that includes a Measured and Indicated Mineral Resource of 722 million lbs of nickel, and an Inferred Mineral Resource of 319 million lbs of nickel at an average grade of 0.74% nickel (mineral resources are not mineral reserves and do not have demonstrated economic viability). The Minago Project has received over $40 million in investment since early 2000.

Manitoba Provincial Highway 6 and a high-voltage (230 kV) transmission line both transect the Minago project. Minago has been demonstrated to produce a 22.3% nickel concentrate based on representative feed of 0.54% nickel through extensive metallurgical testing by SGS. Vale currently produces nickel concentrates in Thompson at the heart of the TNB, 270 km northeast of the Minago project. Its nickel concentrates are shipped to its Sudbury smelter for processing to refined nickel.

Qualified Persons

The technical contents of this news release have been prepared under the supervision of Danniel Oosterman, VP Exploration. Mr. Oosterman is not independent of the Company in that he is employed by it. Mr. Oosterman is a qualified person (“QP”) as defined by the guidelines in NI 43-101.

About Silver Elephant

Silver Elephant Mining Corp. is a premier silver mining and exploration company.

Further information on Silver Elephant can be found at www.silverelef.com.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

“John Lee”

Executive Chairman

For more information about Silver Elephant, please contact Investor Relations:

+1.604.569.3661 ext. 101

ir@silverelef.com  www.silverelef.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding the Company’s future growth, results of operations, performance, and business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. The Company undertakes no obligation to publicly release any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Silver Elephant’s Minago Reports 1.04 Billion Pounds Nickel Mineral Resource Estimate Grading 0.74% Nickel in Canada’s Thompson Nickel Belt


Vancouver, British Columbia, July 6, 2021 – Silver Elephant Mining Corp. (“Silver Elephant” or “the Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces the results of a new mineral resource estimate (“MRE”) for its 100% owned Minago Nickel Project (“Minago  Project”) in Manitoba’s Thompson Nickel Belt (“TNB”) in Canada.

The mineral resource estimate (MRE) has an effective date of July 2, 2021 and includes a Measured and Indicated mineral resource of 722 million lbs of contained nickel and an Inferred mineral resource of 319 million lbs of contained nickel. All resources occur within a mineral lease that is surrounded by 94 mineral claims plus a second mineral lease held by the Company, comprising a total area of 197 km2. The Minago Project has been the subject of over $40 million in exploration, feasibility study and environmental permitting expenditures by various previous interests since early 2000, the most recent of these being by Victory Nickel Inc.

The MRE was prepared by Mercator Geological Services Limited (“Mercator”). AGP Mining Consultants (“AGP”) provided pit optimization and associated services. Stantec Ltd. (“Stantec”) provided site visit and professional support on environmental permitting review. All three firms are independent of Silver Elephant as defined under National Instrument 43-101 (NI 43-101). The Minago Project MRE was prepared in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014) and is tabulated below in Table 1. Separate reporting for the constituent Nose Zone and North Limb Zone appears in Tables 2 and 3, respectively, and notes that apply to all tables follow Table 3. A technical report prepared in accordance with NI 43-101 Form F1 that documents the MRE will be filed on SEDAR by the Company within 45 days.

Table 1: Minago Project Mineral Resource Estimate – Effective July 2, 2021

Type Ni % Cut-off Category Rounded Tonnes Ni % Ni lbs (millions)
Open Pit 0.25 Measured 11,490,000 0.73 184.92
Indicated 12,450,000 0.69 189.39
Measured and Indicated 23,940,000 0.71 374.30
Inferred 2,070,000 0.57 26.01
Underground 0.5 Measured 610,000 0.81 10.89
Indicated 19,680,000 0.77 334.08
Measured and Indicated 20,290,000 0.77 344.97
Inferred 17,480,000 0.76 292.88
Combined 0.25/0.50 Measured 12,100,000 0.73 194.73
Indicated 32,130,000 0.74 524.17
Measured and Indicated 44,230,000 0.74 721.58
Inferred 19,550,000 0.74 318.94

See notes following Table 3

 

Table 2: Nose Zone Mineral Resource Estimate – Effective Date July 2, 2021

Type Ni % Cut-off Category Rounded Tonnes Ni % Ni lbs (millions)
Open Pit 0.25 Measured 11,490,000 0.73 184.92
Indicated 10,310,000 0.70 159.11
Measured and Indicated 21,800,000 0.72 344.02
Inferred 1,410,000 0.51 15.85
Underground 0.5 Measured 610,000 0.81 10.89
Indicated 13,870,000 0.80 244.62
Measured and Indicated 14,480,000 0.80 255.52
Inferred 10,610,000 0.80 187.13
Combined 0.25/0.50 Measured 12,100,000 0.73 194.73
Indicated 24,180,000 0.76 405.14
Measured and Indicated 36,280,000 0.75 599.88
Inferred 12,020,000 0.77 204.05

See notes following Table 3

 

Table 3: North Limb Zone Mineral Resource Estimate – Effective Date July 2, 2021

Type Ni % Cut-off Category Rounded Tonnes Ni % Ni lbs (millions)
Open Pit 0.25 Measured    
Indicated 2,140,000 0.65 30.67
Measured and Indicated 2,140,000 0.65 30.67
Inferred 660,000 0.70 10.19
Underground 0.5 Measured    
Indicated 5,810,000 0.68 87.10
Measured and Indicated 5,810,000 0.68 87.10
Inferred 6,870,000 0.68 102.99
Combined 0.25/0.50 Measured    
Indicated 7,950,000 0.67 117.43
Measured and Indicated 7,950,000 0.67 117.43
Inferred 7,530,000 0.68 112.89

Notes to accompany Tables 1, 2 and 3:

  1. Mineral resources were prepared in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves (MRMR) (2014) and CIM MRMR Best Practice Guidelines (2019).
  2. Open Pit mineral resources are defined within an optimized pit shell with average pit slope angles of 45⁰ and overall 13.3:1 strip ratio (waste : mineralized material). The 13.3:1 strip ratio is comprised of a 6.2:1 pre-strip component and a 7.1:1 deposit component.
  3. Pit optimization parameters include: metal pricing at US$7.80/lb Ni, mining at US$1.77/t, processing at US$7.62/t processed, G&A at US$3.33/t processed, and an average sulphide Ni (NiS) recovery above the cut-off grade of 78% (ranging from 40% to 90%), based on previous metallurgical test programs. An average Ni recovery of 56% can be calculated using the average NiS recovery and the average ratio of NiS to Ni (72%) reported above the cut-off grade. Concentrate by-product credits were applied at metal prices of US$3.25/lb (Cu), US$2,000/oz Pd and US$ 1,000/oz Pt. A potential frac-sand overburden unit was assigned a value of US $20/t, a recovery factor of 68.8 %, mining cost of US $1.77/t, and processing cost of US $6.55/t processed.
  4. Open Pit mineral resources are reported at a cut-off grade of 0.18 % NiS within the optimized pit shell. The 0.18 % NiS cut-off grade approximates a 0.25 % Ni grade when applying the average ratio of total Ni to NiS for the mineral resource. The cut-off grade reflects total operating costs used in pit optimization to define reasonable prospects for eventual economic extraction by open pit mining methods.
  5. Underground mineral resources are reported at a cut-off grade of 0.36 % NiS. The 0.36 % NiS cut-off grade approximates a 0.50 % Ni grade when applying the average ratio of total Ni to NiS for the mineral resource. The cut-off grade reflects total operating costs of US$41.72/t processed to define reasonable prospects for eventual economic extraction by underground mining methods.
  6. Ni % deposit grade was estimated using Ordinary Kriging methods applied to 2 m downhole assay composites. No grade capping was applied. NiS % block values were calculated from Ni % block values using a regression curve based on Ni and NiS drilling database assay values. Model block size is 6 m (x) by 6 m (y) by 6 m (z).
  7. Bulk density was applied on a lithological model basis and reflects averaging of bulk density determinations for each lithology.
  8. Mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
  9. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
  10. Mineral resource tonnages are rounded to the nearest 10,000.

Project Setting

The Minago Project is located in the southern extent of Manitoba’s TNB. Manitoba Provincial Highway 6 and a high-voltage (230 kV) transmission line both transect the Minago project area. Vale currently mines and produces nickel concentrates in Thompson at the heart of the TNB, 270 km northeast of the Minago project. Its nickel concentrates are shipped by rail to its Sudbury smelter for processing to refined nickel.

There are no known legal, political, environmental, or other risks identified by the Company at the July 2, 2021 effective date that would materially affect potential future development of the Minago Project.

Historical Metallurgical Program Results

The 2010 feasibility study completed on behalf of Victory Nickel Inc. for the Minago Project is now historical in nature and no longer applies. However, that study includes results of a metallurgical test program that developed a sulphidic nickel head grade-recovery curve for use in pit optimization and economic assessment of the project. Flotation development tests and locked cycle tests (LCT) were conducted on a master composite of open pit mineralization samples having grades of 0.54% total Ni and 0.36% sulphidic Ni. Results of this work indicated that a nickel concentrate containing 22.27% Ni and 10.43% MgO can be produced with an equivalent sulphidic nickel recovery of 77.2% and a total nickel recovery of 52.3% (Feasibility Study, Minago Nickel Mine, dated March 4, 2010, prepared by Wardrop Engineering Inc. for Victory Nickel Inc. and filed on SEDAR by Victory Nickel Inc.).

These historical metallurgical results are relevant to ongoing evaluation of the Minago Project and the Company intends to thoroughly evaluate them through a new metallurgical program that will support its plan to move the Minago Project forward through feasibility assessment leading to production.

Exploration Potential

The TNB is the fifth largest sulphide nickel belt in the world based on contained nickel endowment. It contains over 18 defined nickel deposits and has supported over 5 billion lbs of nickel production since 1959 (Source: Naldrett, A.J., 2004, Magmatic Sulfide Deposits; Geology, Geochemistry and Exploration: Springer-Verlag, Berlin, 725 p.). Several producing and past-producing mines are located along the same fold-structure at Thompson, known as the Thompson Dome, and occur within a few kilometers of each other. The Thompson, Birchtree and Pipe mines have collectively produced 150 million tonnes grading 2.32% nickel since 1958 (Naldrett, 2004). Vale’s Thompson operations produced 23Mlbs of Ni in 2020 (Vale Annual Report, 2020, dated March 23, 2021).

The Minago Project is hosted by the Opswagan Group, which is the same geological sequence in which the Thompson nickel deposits occur. The orebodies that comprise the currently operating Thompson Mine occur in the Opswagan Group’s Pipe Formation, particularly within the P2 Schist Member. Thompson-style nickel mineralization consists of magmatic nickel sulphide originally associated with mafic and ultramafic intrusions that commonly has been remobilization by regional metamorphism and deformation into favourable structural settings such as fold noses and limbs in host sequences. Nickel sulphides of economic importance also occur as disseminated to massive phases within and adjacent to the mafic and ultramafic intrusions themselves, with this setting best characterizing the Minago deposits.

The Nose Zone and North Limb Zone at Minago have generally similar structural, geological and mineralogical characteristics as deposits located on the Thompson Dome to the north. Nickel mineralization defining the new MRE in both zones of the Minago Project remains open at depth and along strike, based on current drilling results, and the Company has identified good opportunities to expand current mineral resources through future exploration in these areas.

Substantial volumes of nickel mineralization that are presently defined by drilling in the Nose Zone and North Limb Zone were excluded from the current MRE by the cut-off grades applied. The Company believes that some of this mineralization could be included in future open pit and underground resource categories if higher nickel prices develop. The current optimized pit shell has a maximum depth of approximately 350 meters below surface.

Results of inversion modelling of existing ground and airborne magnetic survey data are interpreted by the Company as providing a good indication of mineralized zone continuity between the Nose Zone and the North Limb Zone and for extensions of these zones to depth and along strike. If proven to be correct, this could provide potential for definition of a district-sized deposit. Regionally, historical drilling completed 5 km to the south of the Nose Zone (“South Target”), and 3 km to the northwest of the North Limb Zone (“O Limb Target”) by Amax Exploration from 1969 to 1971 encountered nickel mineralization similar in style to that at Minago. The Company believes that these two specific areas represent high priority targets for further exploration and potential resource expansion.

In addition to exploration noted above within the Minago Project, the Company recently tasked a professional team with significant expertise in the Thompson Nickel Belt with identifying additional prospective areas for staking.

Company Remarks

The Company believes Minago has potential to support future production of Class 1, high-purity nickel for application in nickel-lithium batteries used in electric vehicles.

The Minago MRE demonstrates that the Minago Project is one of Canada’s largest undeveloped sulphide nickel deposits. In the next 12 months, the Company intends to carry out core drilling programs at Minago to expand existing mineral resources, address updating of environmental permitting established in 2011 to operate the project, and initiate economic evaluation of the MRE by means of a Pre-feasibility or Feasibility study.

Minago Project maps are available at www.silverelef.com.

Qualified Persons

Matthew Harrington, P. Geo., of Mercator Geological Services Limited is responsible for technical disclosure regarding the Minago MRE contained in this press release. Both he and Mercator are independent of Silver Elephant, as this term is defined under NI 43-101.

The technical contents of this news release have been prepared under the supervision of Danniel Oosterman, VP Exploration for Silver Elephant. Mr. Oosterman is not independent of the Company as this term is defined under NI 43-101.

About Silver Elephant

Silver Elephant Mining Corp. is a premier silver mining and exploration company.

Further information on Silver Elephant can be found at www.silverelef.com.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

“John Lee”

Executive Chairman

For more information about Silver Elephant, please contact Investor Relations:

+1.604.569.3661 ext. 101

ir@silverelef.com  www.silverelef.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding the Company’s future growth, results of operations, performance, and business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. The Company undertakes no obligation to publicly release any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Silver Elephant Engages Wood PLC to Conduct Preliminary Economic Assessment on Gibellini Vanadium Project


Vancouver, British Columbia, May 31, 2021 – Silver Elephant Mining Corp. (“Silver Elephant” or “the Company”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces that the Company’s wholly owned subsidiary Nevada Vanadium LLC. (“Nevada Vanadium”) has commissioned a Preliminary Economic Assessment (“PEA”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) in respect of its Gibellini vanadium project, located in Eureka Country, Nevada, USA.

Vanadium is one of the best performing metals of 2021. Vanadium pentoxide price has risen 52% from US$5.4/lb in early January to US$8.2/lb today. The Gibellini project encompasses the Gibellini, Louie Hill, and Bisoni McKay properties which the Company acquired in 2017 and 2020.

The PEA will be prepared in collaboration between Wood PLC (“Wood”) and Mine Technical Services (“MTS”) as part of its proposed spinout strategy.

About the Gibellini Project

The Gibellini vanadium project, designed to be an open-pit, heap-leach operation, is located in Nevada, USA. Nevada was ranked by the Fraser Institute as the world’s #1 mining investment jurisdiction in 2018 and 2020. The Gibellini project development achieved an important milestone in July 2020 when the Notice of Intent to prepare an Environmental Impact Statement (“EIS”) was published in the Federal Register. A final Record of Decision on EIS is expected in 2021. The U.S. government has designated vanadium as one of 35 critical minerals to the national security and the economy. Vanadium alloys and catalysts are used in the aerospace, defense, energy storage, and infrastructure sectors. Over $35 million has been invested at Gibellini to date.

Qualified Persons

The scientific and technical contents of this news release have been prepared under the supervision of Danniel Oosterman B. Sc.(Hons), P.Geo., Vice President, Exploration of the Company. Mr. Oosterman is a “Qualified Person” as defined in NI 43-101 and is not independent of the Company due to his employment by the Company.

About Silver Elephant

Silver Elephant Mining Corp. is a premier silver mining and exploration company with proposed vanadium and nickel spinouts.

Further information on Silver Elephant can be found at www.silverelef.com.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

“John Lee”

Executive Chairman

For more information about Silver Elephant, please contact Investor Relations:

+1.604.569.3661 ext. 101

ir@silverelef.com  www.silverelef.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Company’s future growth, results of operations, performance, and business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. In this news release, forward-looking statements relate, among other things, to: statements about the estimation of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; future exploration prospectus; future corporate events; the completion and timing of mineral resource estimates and the PEA; future growth potential for the Company and Nevada Vanadium; and future development plans.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others: risks related to the speculative nature of the Company’s business; the Company’s stage of development; the impact of COVID-19 on the timing of exploration and development work; the Company’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; actual results of reclamation activities; conclusions of future economic evaluations; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of vanadium, nickel, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be anticipated, estimated or intended. These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company undertakes no obligation to publicly release any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

 

Silver Elephant’s Sunawayo Drills 2 Meters of 645 g/t Silver, 5.1% Lead, 1.3% Zinc, 0.2% Copper within 5 Meters of 380 g/t AgEq, Indium and Gallium Assays Pending


Vancouver, British Columbia, May 4, 2021 – Silver Elephant Mining Corp. (“Silver Elephant” or “the Company”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces drill assay results from the Sunawayo project from drill holes SWD011 to SWD014, which include a high-grade intercept of 2.0 meters grading 645 g/t Ag, 5.12% Pb and 1.34% Zn, 0.19% Cu (813 g/t AgEq) within a broader intercept of 5.0 meters grading 297 g/t Ag, 2.43% Pb, 0.78% Zn, 0.08% Cu (380 g/t AgEq).

Highlighted results from this batch of drillholes is tabulated below:

Hole ID From To Length (m) AgEq (g/t) Ag (g/t) Pb % Zn % Cu % In g/t Ga g/t
SWD011 117.0 132.0 15.0 40 30 0.27 0.11 0.01 pending pending
incl… 121.0 125.0 4.0 72 57 0.41 0.17 0.01 pending pending
SWD011 181.0 192.0 11.0 33 15 0.60 0.07 0.02 pending pending
SWD011 190.0 192.0 2.0 40 15 0.88 0.12 0.02 pending pending
SWD012 16.0 17.0 1.0 36 15 0.96 0.01 0.00 pending pending
SWD012 38.0 40.0 2.0 30 8 0.93 0.03 0.02 pending pending
SWD012 99.0 100.0 1.0 33 23 0.21 0.11 0.03 pending pending
SWD013 3.0 21.0 18.0 35 23 0.40 0.02 0.02 pending pending
SWD013 146.0 151.0 5.0 380 297 2.43 0.78 0.08 pending pending
incl… 148.0 150.0 2.0 813 645 5.12 1.34 0.19 pending pending
SWD014 5.0 7.0 2.0 111 51 2.68 0.00 0.02 pending pending
SWD014 37.0 43.0 6.0 52 13 1.57 0.02 0.04 pending pending
SWD014 52.0 54.0 2.0 97 23 2.77 0.25 0.06 pending pending
SWD014 78.0 79.0 1.0 35 19 0.40 0.06 0.06 pending pending

Reported intercepts are core-lengths and not true-widths; based on core-angle measurements, true widths range from 78% to 84% of reported core length. AgEq calculation uses a silver price of $25.00/oz, a zinc price of $1.10/lb., a lead price of $0.80/lb. and a copper price of $3.00/lb. (all USD) and assumes 100% metallurgical recovery as no metallurgical studies have been conducted on the project, and do not reliably reflect expected metallurgical results. Silver equivalent values are calculated using the following formula: AgEq = Ag g/t + (Zn % x 30.1644) + (Pb % x 21.9377) + (Cu% x 82.2665).

The Company has completed its planned 15-hole drilling program at Sunawayo with SWD015 assay results pending.

Results thus far confirm 14 out of 14 Sunawayo drilled holes over a 6.8 km span contain silver mineralization, highlighting the potential for the presence of one or more mineral deposits on the project. Currently there is insufficient exploration to determine whether any resources are present.

In reviewing assay results of SWD001 to SWD014, the company discovered indium and gallium mineralization and have re-submitted drill hole samples from SWD001 to SWD014 to ALS Global Laboratories for the analysis of indium and gallium concentrations.

Detailed maps of Sunawayo located in central Bolivia are available at www.silverelef.com.

Qualified Person

The technical contents of this news release have been prepared under the supervision of Danniel Oosterman, VP Exploration. Mr. Oosterman is not independent of the Company in that he is employed by it. Mr. Oosterman is a qualified person (“QP”) as defined by the guidelines in NI 43-101.

Quality Assurance and Quality Control

Silver Elephant adopts industry-recognized best practices in its implementation of QA/QC methods. A geochemical standard control sample and a blank sample are inserted into the sample stream at every 20th sample. Duplicates are taken at every 40th sample. Standards and duplicates, including lab duplicates and standards, are analyzed using scatterplots. Samples are shipped to ALS Global Laboratories in Ururo, Bolivia for preparation. They are then shipped to ALS Global laboratories in Lima, Peru for analysis. Samples are analyzed using Intermediate Level Four Acid Digestion. Silver overlimits (“ore grade”) are analyzed using fire assay with a gravimetric finish. ALS Laboratories sample management system meets all the requirements of the International Standards ISO/IEC 17025:2017 and ISO 9001:2015. All ALS geochemical hub laboratories are accredited to ISO/IEC 17025:2017 for specific analytical procedures.

All samples are taken from HQ-diameter core is split in half by a diamond-blade masonry saw. One half of the core is submitted for laboratory analysis and the other half is preserved for reference at the Company’s secured core facility. All the core is geotechnically analyzed and photographed and then logged by geologists prior to sampling.

About Silver Elephant

Silver Elephant Mining Corp. is a premier silver mining and exploration company.

Further information on Silver Elephant can be found at www.silverelef.com.

SILVER ELEPHANT MINING CORP.

ON BEHALF OF THE BOARD

“John Lee”

Executive Chairman

For more information about Silver Elephant, please contact Investor Relations:

+1.604.569.3661 ext. 101

ir@silverelef.com  www.silverelef.com

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Company’s future growth, results of operations, performance, and business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results not to be as anticipated, estimated, or intended. The Company undertakes no obligation to publicly release any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.

Western Uranium & Vanadium Corp. Closes Final Tranche of Non-Brokered Private Placement


Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (“ Western ” or the ” Company ”) is pleased to announce the closing of a second and final tranche of its non-brokered private placement (the “ Private Placement ”) (please refer to the news release issued by Western on February 16, 2021 for details on the first tranche of the Private Placement). At this closing, the Company raised gross proceeds CAD$2,500,000 through the issuance of 3,125,000 units (the ” Units ”) at a price of CAD$0.80 per Unit. The total raised in the two tranches of this Private Placement of 6,375,000 Units aggregates to CAD$5,100,000. Western used 100% of the overallotment option to issue the maximum quantity of authorized Units to satisfy investors’ oversubscription demand.

Each Unit consists of one common share of Western (a ” Share “) plus one common share purchase warrant of Western (a “ Warrant ”). Each Warrant shall entitle the holder to purchase one Share at a price of CAD$1.20 per Share for a period of three years following issuance.  A total of 6,375,000 Shares and 6,375,000 Warrants are being issued in the two tranches of the Private Placement.

The Warrants contain a provision that if the Company’s Shares trade at or above CAD$2.40 per Share for 10 consecutive trading days, the Company may, at any time after the expiry of the applicable statutory hold period, accelerate the expiration of the Warrants upon not less than 30 days’ written notice by the Company (the “ Acceleration Clause ”).

The Company anticipates that the net proceeds of the Private Placement will be used to secure value-added opportunities, fund follow-on work at the five mines comprising the Sunday Mine Complex, the exploration and development of a second production center and for general corporate and working capital purposes.

In connection with the second tranche of the Private Placement, the Company is paying CAD$8,952 in finder’s fees plus 11,190 compensation warrants exercisable for three years, each warrant being exercisable at CAD$0.94 per Share of the Company. The compensation warrants are subject to the Acceleration Clause. For details on the finder’s fee paid in connection with the first tranche of the Private Placement, please refer to the news release issued on February 16, 2021.

Securities issued pursuant to the Private Placement shall be subject to a minimum six (6) month hold period.  The closing of the Private Placement remains subject to final regulatory approval.

The securities offered and sold have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

bout Western Uranium & Vanadium Corp.

Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of kinetic separation.

Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or a “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”).  Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans;  whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com , for a more detailed review of those risk factors.  Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT :
George Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com

Robert Klein
Chief Financial Officer
908-872-7686
rklein @western-uranium.com

www.investingnews.com

SPECIALTY STEEL RAW MATERIALS MARKET REPORT 03/03: Tight Prompt Supply Pushes Ferro-vanadium Price Up


An overview of the specialty steel raw materials markets in Europe and their latest price moves.

Charlotte Radford, Cristina Belda…

www.metalbulletin.com

A Steel In Shandong FeV Bidding Price On 3 March 2021


Product 

Spec.

Price (RMB/TON)

Qty(ton)

Basis

FeV

50#

121,000

10

Acceptance with tax

www.ferroalloynet.com

A Steel In Shandong Vn Alloy Bidding Price On 3 March 2021


Product 
Spec.
Price (RMB/TON)
Qty(ton)
Basis
Vanadium-nitrogen
VN16
169,500
150
Acceptance with tax

www.ferroalloynet.com

WISCO Echeng VN Alloy Bidding Price On 3 March 2021


Product 
Spec.
Price (RMB/TON)
Qty(ton)
Basis
Vanadium-nitrogen
VN16
169,500
60
Acceptance with tax

www.ferroalloynet.com

V2O5 Flake Price Is Strong, VN Quotation Is Slightly Lowered


www.ferroalloynet.com: Today’s domestic quotations of vanadium products: the price of ammonium metavanadate is 102,000-110,600 CNY/Ton; the price of retail V2O5 flake is 107,500–110,000 CNY/Ton; the pricce  of ferrovanadium50 is 118,000-12.2 CNY/Ton, and the price of VN alloy 164,000-170,000 CNY/Ton;all prices are cash inclusive of tax.

In terms of raw materials, large plants’V2O5 flake is107,000 CNY/Ton in cash with tax, which is hard to find. Tranvic said that the supply of goods has been signed in March. The transaction price of V2O5 flake in retail customers is still stable at 107,500-110,000 CNY/Ton in cash. The intentiom of alloy factories purchase high-priced V2O5 flake is relatively few. The quotation of ammonium metavanadate remained stable, and the transaction price was high or low, and the cash was 100,000-105,000 CNY/Ton.

In terms of alloys, the quotations of some vanadium-nitrogen alloy manufacturers and traders have slightly lowered, with cash quotations of 164,000-165,000CNY/Ton, while most manufacturers’quotations are still firm and in cash of 167,000- 170,000 CNY/Ton, so there are fewer inquiries in the bulk cargo market. The transaction fell slightly in cash of 164,000-165,000 CNY/Ton. In March, the bidding for large and medium-sized steel mills has been basically completed, and the mainstream steel bidding acceptance is 169,000-170,000 CNY/Ton including tax. The quotations of ferrovanadium manufacturers are firm, not less than 120,000 CNY/Ton in cash, while traders offer is 117,000-118,000 CNY/Ton in cash, and scattered transactions are mostly around 117,000 CNY/Ton in cash.

www.ferroalloynet.com

Vanadium Market Less Active, Wait-and-see Sentiment Become Strong


www.ferroalloynet.comVanadium market activity has slightly decreased, and raw material market quotation is less, retail piece V2O5 flake manufacturers shipment offer is higher and they don’t want to sell at low prices, so manufacturers enthusiasm is reduced, and the mainstream offer is more in cash of 110,000-112,000 CNY/Ton, but the actual transaction price is in 109,000-110,000 CNY/Ton. There is less ammonium metavanadate manufacturers to ship, and they are reluctant to sell at low prices, so manufacturers are hesitant to purchase at high prices.

European ferrovanadium prices fluctuate slightly upward, on March 3, European ferrovanadium was  34-34.7 USD/ kg V, which is converted into ferrovanadium 50 of about 109,800-112,000 CNY/Ton. The domestic ferrovanadium market transaction is general, and manufacturers offer firmly; the mainstream offer is in cash 117,000-120,000 CNY/Ton.

www.ferroalloynet.com

Eskom Needs R1 Billion A Week From Government To Keep The Lights On In 2021


Eskom, will require government funding of approximately R1 billion per week – the equivalent of R6 million every hour of the day – to remain both financially and operationally stable in 2021. Without the cash, it will not be able to service its “unsustainable debt burden” of R480 billion.
That state of affairs was laid before Parliament’s Standing Committee on Public Accounts (SCOPA) on Wednesday morning. A presentation, recapping the utility’s dismal 2020 financial results and ambitious recovery plan, showed slight improvements during lockdown, but that results in 2021 are expected to be worse than the year before.
In 2020, Eskom managed to normalise its coal stock, bring the troubled Kusile Unit 2 online, and improved debt collection from defaulting municipalities. This was accomplished with government’s help – to the tune of R49 billion in bailouts.
But continued financial losses, delayed maintenance, and unplanned plant breakdowns led to 46 days of load shedding during the 2020 financial year. This, despite demand decreasing by between 1,360 MW and 5,680 MW – or roughly 10% of Eskom’s total generation capacity – during lockdown Alert Levels 3 to 5, respectively.
Eskom spent a further R7.5 billion on diesel-generated power to support the grid during times of immense strain. This is expected to be reduced by 30% in 2021, but only if the utility’s maintenance schedule is upheld and additional capacity is created to replace end-of-life power stations.
The utility predicts that its sales for the 2020/2021 financial year will drop even further, due to the Covid-19 pandemic. In 2019/2020, Eskom’s local sales dropped by 2.8%.
“Overall, sales volumes for 2021 are expected to be around 7% lower than 2020,” it told SCOPA.
While Eskom hopes to be profitable from 2023 onwards, cost savings of R62 billion and government equity support are not enough to get it there, it says. For this to happen, Eskom needs to slash its debt in half, create an operating cash balance of R30 billion, and almost double its ebitda (earnings before interest, taxes, depreciation, and amortisation) margin.
In the meantime, the utility will still need to rely on very, very large government bailouts to ensure that its remains operationally viable and staves off load shedding.
“On average, Eskom requires government support of about R1 billion per week in 2021,” Eskom told Parliament.
“We regret the burden that this places on the fiscus, particularly in the current economic climate.”
www.ferroalloynet.com

Golden Deeps Commissions Mining Study At Historic Abenab Vanadium Mine


Junior explorer Golden Deeps (ASX: GED) has commenced a mining study on the historic Abenab vanadium mine in Namibia, previously known as the richest and largest deposit of vanadate ore in the world.
South Africa-based mining engineering group Bara Consulting has been engaged to conduct the study which will enable Golden Deeps to progress Abenab towards feasibility stage and production.
Bara’s scope of work comprises an evaluation of open pit and underground mining options and an estimation of mining costs, and will include a primary access trade-off study, cut-off grade estimation and geotechnical assessment.
Bara has previously conducted extensive metallurgical testwork on Abenab ore, reporting it to be “easy and cheap to process” using gravity separation techniques compared to ferrovanadium-type deposits which require more complex and expensive milling.
Economic viability
Golden Deeps said the mining study would assess the economic viability of exploiting the Abenab deposits based on current commodity prices, exchange rates and mining costs.
“With the growing need to combat climate change, governments around the world are planning to transition to zero emissions through electrification [and] this has resulted in recent increases in the price of so-called EV metals, including vanadium, which is used in vanadium flow batteries,” the company said.
The study will allow Golden Deeps to prioritise and schedule additional work aimed at further developing the project, including drilling to increase the existing resource adjacent to the open pit and at depth as well as refinement of the process flowsheet.
World’s richest deposits
The Abenab deposits were discovered in the early 20th century and mined up until 1958, at which time the Abenab and Abenab West mines were considered the world’s richest and largest known discoveries of vanadate ore, producing a substantial amount of high-grade concentrate.
The Abenab mine was a major open pit and underground vanadium and base metal operation in the highly-prospective and underexplored Otavi Mountain Land region in northern Namibia.
In its heyday, the mine reported ore production of approximately 1.8 million tonnes at 1.05% vanadium pentoxide for approximately 102,000 tonnes of concentrate grading 18% vanadium pentoxide, 13% zinc and 42% lead.
Historical exploration and more recent drilling has indicated potential for extensions of the mineralisation at depth and laterally, and highlighted the possibility of re-starting the operation using simple, low-cost processing methods.
In January 2019 following detailed geological reviews and the creation of a new geological model, Golden Deeps reported a JORC mineral resource at Abenab of 2.8 million tonnes at 0.66% vanadium pentoxide, 2.35% lead and 0.94% zinc at a cut-off grade of 0.2% vanadium pentoxide.
www.ferroalloynet.com

KAIST’s New Material Could Make EV Batteries 20% More Powerful


Korea Advanced Institute of Science and Technology said Wednesday it has developed a new material that enhances the energy density of lithium-ion batteries by 20 percent while maintaining their stability.
According to a research led by Cho Eun-ae, materials science and engineering safety professor at KAIST, lithium-ion batteries that contain 80 percent nickel inside cathodes demonstrate energy capacity of 200 ampere-hours per gram. However, the newly developed cathode materials can accommodate 20 percent more lithium ions and exhibit energy capacity of as much as 250 ampere-hours per gram.
Cathodes are one of the four key components of lithium-ion batteries including anodes, separators and electrolytes. The higher the ratio of nickel inside cathodes, the more powerful but less stable lithium-ion batteries become.
“If existing high-nickel cathodes could accommodate 100 lithium ions, the new cathodes can contain 120 lithium ions, providing greater energy to batteries,” Cho told The Korea Herald.
Cho added that lithium-rich cathodes haven’t been commercialized yet because when too much lithium-ions visit cathodes, they react with oxygen and compromise the structure of the cathodes.
However, Cho solved the instability issue by coating the lithium-rich cathodes with a metal called vanadium.
According to the research, lithium-ion batteries coated with vanadium maintained 92 percent of initial performance after charged and discharged 100 times, while uncoated ones preserved 74 percent of initial capacity.
Also, cathodes coated with vanadium returned to their original state at 81 percent level after charged and discharged once, while uncoated cathodes recovered their original state at 69 percent level in the same condition.
“Vanadium is not a common material, but as a extremely small amount is used for coating cathodes, it’s unlikely to drive up the costs of lithium-ion batteries,” Cho said.
www.ferroalloynet.com

Energy Fuels On Track To Begin Commercial Rare Earth Concentrate Production


The company supplies uranium (U3O8) to major nuclear utilities and can also produce vanadium from some projects as market conditions allow
What Energy Fuels does:
Energy Fuels Inc (TSE:EFR) (NYSEMKT:UUUU), headquartered in Colorado, is a fully-integrated producer of both uranium and vanadium, and owner of the only operating conventional uranium mill at White Mesa in the US.
It supplies uranium (U3O8) to major nuclear utilities and can also produce vanadium from some projects as market conditions allow.
The firm’s White Mesa mill has a licensed capacity to produce over eight million pounds of uranium a year, and can generate vanadium when market conditions warrant.  The mill is also licensed for the production of other minerals, including tantalum, which has made it onto the US government’s ‘critical minerals’ list.
The White Mesa mill is also operating under a new processing deal to assist in the cleanup of a formerly producing, Cold war era abandoned uranium mine in New Mexico.
Energy Fuels has said it is in talks with several entities, including the US government, about the potential to recover both light and heavy rare earth elements (REEs) at the mill, as well as uranium from certain natural ores and alternate feed materials.
Meanwhile, the group’s Nichols Ranch ISR Project is in operation and has a licensed capacity of two million pounds of U3O8 per year. It is currently producing and has generated over 1.2 million pounds of uranium since 2014. The Alta Mesa ISR project is currently on standby
In addition to the above, Energy Fuels also has one of the largest NI 43-101 uranium resources in the US and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development.
How is it doing:
In its most recent development, Energy Fuels said on March 2, 2021, that it is teaming up with Neo Performance Materials (TSE:NEO) on a new US and European rare earth production initiative. The program will produce value-added rare earth products from natural monazite sands, which is a byproduct of heavy mineral sands mined in the southeastern US.
Energy Fuels will process the monazite sands into a mixed rare earth carbonate in Utah to use as feedstock for Neo’s rare earths separation facility in Estonia. The firm is also evaluating the potential to develop separation facilities in the US.
In December 2020, Energy Fuels announced that it is set to become the first US company in several years to produce a marketable mixed rare earth element (REE) concentrate ready for separation on a commercial scale.
This comes after the company reported that it has entered into a three-year supply agreement with The Chemours Company (NYSE:CC) to acquire a minimum of 2,500 tons per year of natural monazite sands from the Offerman Mineral Sand Plant in Georgia.
Energy Fuels said it plans to process the monazite at its White Mesa Mill in Utah beginning in 1Q 2021, while also recovering the contained uranium, which it believes represents an important step toward re-establishing a fully-integrated US REE supply chain.
The goal is to process at least 15,000 tons of monazite per year for the recovery of REEs and uranium, which would represent about 2% of White Mesa’s throughput capacity.
Energy Fuels has said it expects to have between 670,000 and 700,000 pounds of finished uranium and 1.672 million pounds of finished vanadium in inventory at the end of 2020.
The company has also been able to produce a rare earth element (REE) carbonate concentrate on a pilot scale at its 100% owned White Mesa Mill in Utah, which it believes is the first REE concentrate produced from monazite sands at any significant quantity in North America in more than 20 years.
Energy Fuels noted that it is in negotiations with various parties to procure sources of monazite sands that can potentially be processed on a commercial scale at the Mill for the recovery of REE concentrate and uranium. In addition, it is carrying out ongoing discussions on the possible sale of REE concentrate produced at the Mill to an REE separation facility.
The company ended its third quarter of 2020 with working capital of $44.7 million, a 17% quarter-over-quarter increase, which includes $28.1 million in cash and marketable securities plus $25.6 million of concentrate inventory and work in progress. As of October 6, 2020, the company was debt-free for the first time since 2012.
What the broker says:
Analysts with Noble Capital Markets on March 3 reiterated their ‘Market Perform’ rating on Energy Fuels’ shares, a day after the uranium firm announced its outtake agreement with Neo Performance Materials.
Noble noted that Neo will take 80% of the rare earth products processed from monazite sand by Energy Fuels’ White Mills plant and that the agreement includes a put option for Energy Fuels to sell the remaining 20% as well as a right of first refusal option for Neo for additional monazite purchases.
“The agreement will only use only 2% of White Mill capacity, leaving room to expand either monazite/rare earth operations or start-up uranium operations,” the analysts wrote.
The analysts noted that Energy Fuels and China are the world’s only producers of monazite: “Other mills may follow Energy Fuel’s lead, but UUUU will have a first mover advantage should the fledgling industry take off. Should the company move to start separating rare earth elements, it could be especially lucrative for the company.”
Going forward, the Noble said they expect that the processing of rare earth elements will generate several million dollars in free cash flow for Energy Fuels.
They added: “However, with excess capacity at the mill, it is not hard to see this free cash flow estimate expand quickly with new agreements. With no other monazite processing plants to use as a comparison, we have not yet factored the agreement into our models. Instead, we simply view the movement into monazite processing as a positive step with large potential.”
Inflection points:
Commercial rare earth concentrate production possible in 2021
Update on government budget proposal
Uranium/vanadium price moves
What the boss says:
“By using existing infrastructure and technologies at the Mill to recover the uranium and the REEs from monazite sands, we are able to avoid the years of permitting and development, along with the tens, or even hundreds, of millions of dollars of capital that others would be faced with. Assuming the company is able to secure adequate quantities of monazite sands, we expect to be in a position to produce commercial quantities of REE Concentrate by early 2021,” Energy Fuels CEO Mark Chalmers said in a recent statement.
He added, “successful testing at scale also demonstrates the importance of the White Mesa Mill in helping the US re-establish its domestic REE supply chain.”
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Critical Minerals Offer Regional Job Boost


The Morrison government is aiming to help businesses turn minerals from the Hunter Valley, Western Australia and central Queensland into products such as batteries, solar cells and mine safety equipment.
Prime Minister Scott Morrison will on Thursday announce a new 10-year plan to boost resources technology and critical minerals processing.
Australia has the world’s largest resources of rutile (titanium), zircon (zirconium) and tantalum and is ranked in the top five nations for antimony, cobalt, lithium, manganese ore, niobium, tungsten and vanadium.
Businesses will be able to apply for funding from the $1.3 billion Modern Manufacturing Initiative for proposals such as scaling up production or commercialising products to tap into global supply chains.
“Yesterday’s national accounts showed the comeback of the Australian economy is well under way and manufacturing businesses and jobs will be central to our national economic recovery plan,” Mr Morrison said.
“Our Modern Manufacturing Initiative will help position Australia as not just a global leader in the resources sector but also in the manufacturing of the technology used, as well as turning the raw materials into value-added products.”
He said it would be particularly beneficial for jobs in resource-rich regions such as the Hunter, WA and central Queensland.
Industry Minister Karen Andrews said the funding could back businesses wanting to turn critical minerals into products such as batteries and solar cells, as well as mining equipment.
The government also soon plans to release similar roadmaps to drive investment in the food and beverage industries, recycling, clean energy and defence.
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U.S. And Mexican Steel Industries Affected By Winter Storms


www.ferroalloynet.com: Due to limited supply in the domestic market, U.S. hot rolled coil (HRC) prices rebounded from the previous week.
The winter blizzard hit the United States and Mexico for a week, severely affecting the oil supply of the two countries. In addition, the storm also brought a shortage of natural gas and electricity supplies, restricting the operations of the Mexican steel industry.
According to market participants, due to winter blizzards leading to a decline in production, spot stocks in April have almost been used up.
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In January, 730,000 TEU Empty Containers “Arrived” In Ningbo Port


www.ferroalloynet.com: Affected by factors such as the epidemic, the country is severely affected by the shortage of containers. Recently, the “COSCO SHIPPING Stellar” vessel carrying 15,294 TEU containers slowly berthed at berth No. 6 of Ningbo Meidong Container Terminal Co., Ltd. What is encouraging is that this 200,000-ton-class large container ship is loaded with 13,469 TEU empty containers, alleviating the “near thirst” for empty containers in the Chinese market.
According to reports, in January, Ningbo imported about 730,000 TEUs of empty foreign trade containers, a net increase of about 160,000 TEUs compared to the monthly average of the fourth quarter of 2020, an increase of 28%; about 20 new imported empty container overtime ships berthed Secondly, the monthly average level increased by nearly 62% compared to the fourth quarter of 2020, effectively alleviating the urgent need for Ningbo’s container export to be “difficult to find”.
Under the influence of the epidemic in 2020, China’s foreign trade industry was relatively sluggish in the first half of the year and quickly recovered in the second half of the year. However, the efficiency of international logistics and overseas ports was subject to the impact of the epidemic. A large number of empty containers were backlogged in the United States, Europe, Australia and other places, and there was a large shortage of containers in the market. As a result, shipping rates have increased, and prices on popular routes have even doubled.
Driven by the continuous increase in freight rates, foreign trade companies’ rush to ship goods further intensified the increase in freight rates and the tightness of containers. Therefore, since the second half of 2020, shipping capacity has been in short supply, and “a box is difficult to find” has become a troublesome factor for many foreign trade companies.
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